Reps probe CBN’s N1.12trn Anchor Borrowers’ Programme, NIRSAL’s N215bn loan

 

.As AGF takes over alleged N6.6bn fraud case against Polaris Bank staff 

 

The House of Representatives has ordered probes into the N1.12 trillion anchor borrowers scheme, an initiative of the Federal Government’s interventions and agricultural funding through the Central Bank of Nigeria (CBN).

Also included in the probe is the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), the Bank of Industry (BoI) and other agencies.

The resolution followed the adoption of a motion by Rep. Chike Okafor (APC-Imo) on the floor of the House in Abuja on Tuesday.

Presenting his motion, Okafor linked the growing food scarcity and malnutrition in Nigeria to the alleged mismanagement of agricultural funds intended for agricultural development in the country.

He said the Federal Government had expended N8 trillion in 8 years on various schemes and interventions in the last eight years with the view of making food available for millions of Nigerians.

He added that the alleged mismanagement, misapplication of funds and abuse of the programmes had left Nigeria with the twin challenges of food scarcity and malnutrition.

Okafor said that funds advanced to end users of the various Federal Government interventions had also been allegedly misused, misapplied and channelled to non-farming and non-agricultural purposes.

This, he said was responsible for the current acute scarcity of food in the country.

Adopting the motion, the House mandated the Committee on Nutrition and Food Security as well as the Committee on Agricultural Production and Services; Agricultural Colleges and Institutions and Finance, to probe

The Committees were mandated to thoroughly investigate CBN’s alleged mismanagement of the Anchor Borrowers Program (ABP) for which ₦1.12 trillion was to be disbursed to 4.67 million farmers.

The farmers who were said to be involved in maize, rice or wheat farming through 563 anchors.

The committees are also to look into NIRSAL’s disbursement of ₦215,066,980,274.52, to facilitate agriculture and agribusinesses.

The house gave the committees four weeks to report back to the House.

The house also mandated the committees to equally assess how the Bank of Industry (BOI) disbursed N3 billion to 22,120 small holder farmers through the Agriculture Value chain financing (AVCF) Programme.

The committee is to also investigate the handling of the N5 billion loan facility to the Bank of Agriculture (BOA) for livestock farmers across the country.

This will anls include the management of the National Agricultural Development N1.6 billion Recovery Fund for the Ginger Blight Epidemics Central Taskforce (GBECT).

This is for the control of Blight disease in Ginger, among other interventions.

However,  The Attorney-General of the Federation (AGF) and Minster of Justice, Lateef Fagbemi, SAN, has taken over the trial of Mr Chinenye Duru, a Polaris Bank staff and account officer to Mr Victor Onukogu, in the alleged N6.6 billion fraud.

AGF’s counsel, V.J. Alma, told Justice Inyang Ekwo of a Federal High Court, Abuja that Fagbemi, pursuant to his powers under Section 174(1)(b) of the Constitution (as amended), had directed the takeover of the matter.

The lawyer said though the matter for today was for continuation of trial, the AGF gave the directive.

“We have written a letter to the Nigerian police notifying them of this position and requesting for the original case file in a letter dated 29th May, 2024.

“We are still waiting for the original case file,” he said.

Justice Ekwo asked Alma if the court had already been notified of the development and the lawyer responded in affirmative.

Alma, who prayed the court to fixed the adjournment date after vacation, urged the court to fixed the matter for trial.

The judge then told Duru’s lawyer, Chief Chidi Ezenwafor, to advise Polaris Bank, the 1st defendant, to ensure a counsel represents them in the case.

Although Ezenwafor said he expected Alma to apply for a date for mentioning of the case instead of trial, the judge said: “There is no harm in giving a date for trial.”

Justice Ekwo, consequently, adjourned the matter until Nov.18 and Nov. 19 for trial.

The News Agency of Nigeria (NAN) reports that the Inspector-General (I-G) of Police had, on Jan. 19, arraigned Duru on 11-count charge.

He, however, pleaded not guilty to the counts and the judge ordered him to be remanded in a correctional facility pe ding the hearing of his bail application.

While the I-G was the complainant in the charge marked: FHC/ABJ/CR/603/2023, Polaris Bank Plc and Duru are 1st and 2nd defendants.

NAN reports that in count one, Polaris Bank and Duru were alleged to have between Nov. 17, 2017, and Aug 14, 2023, fraudulently withdrew from Onukogu Victor Hezekiah’s account numbers: 1040495455 and 1060104735, domiciled with the bank the sum of N16 billion and N500 million.

It said that knowing that the said money did not belong to them, and knowing the same act was wrong with the intention of converting same to their personal use and thereby committed an offence contrary to Section 21 (a) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition Act, 2022.

In count four, the defendants were alleged to have between Nov. 17, 2017 and Aug. 14, 2023, fraudulently withdrew the sum of N75. 534 million from Onukogu’s account number: 4010023601 contrary to Section 18 (2) of the Money Laundering (Prevention and Prohibition Act, 2022.

In count six, they were alleged to have fraudulently withdrawn the sum of N13.3 million from Hezekiah University’s account number: 40910106770.

The defendants were also alleged to have fraudulently withdrew the sum of N16.3 million between the same date from Hezekiah University’s account number: 411054152 without any authorisation from the account owner with the intention of converting same to their own personal use contrary to the Money Laundering Act, among other counts.

NAN reports that Onukogu, also known as Daddy Hezekiah, is the spiritual head of Living Christ Mission Church, Onitsha in Anambra.